TD Cowen Begins Coverage on Voya Financial (NYSE:VOYA)

Analysts at TD Cowen initiated coverage on shares of Voya Financial (NYSE:VOYA) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating on the asset manager’s stock.

Several other equities research analysts have also issued reports on the stock. Barclays dropped their price objective on shares of Voya Financial from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Voya Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Wells Fargo & Company dropped their price objective on shares of Voya Financial from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Wall Street Zen lowered shares of Voya Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Royal Bank Of Canada raised their price target on shares of Voya Financial from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

Voya Financial Price Performance

Voya Financial stock opened at $74.88 on Monday. Voya Financial has a 52-week low of $55.68 and a 52-week high of $79.99. The firm has a fifty day moving average of $69.91 and a 200-day moving average of $72.45. The firm has a market capitalization of $6.92 billion, a P/E ratio of 11.90, a PEG ratio of 0.50 and a beta of 0.86. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.41.

Voya Financial (NYSE:VOYA) last released its quarterly earnings data on Tuesday, February 3rd. The asset manager reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.17). Voya Financial had a return on equity of 13.96% and a net margin of 7.99%.The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company earned $1.40 EPS. Voya Financial’s revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that Voya Financial will post 9.8 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new position in Voya Financial during the 1st quarter valued at $1,865,000. Ritholtz Wealth Management boosted its stake in Voya Financial by 32.9% during the 1st quarter. Ritholtz Wealth Management now owns 9,384 shares of the asset manager’s stock valued at $641,000 after acquiring an additional 2,322 shares during the last quarter. Leeward Investments LLC MA boosted its stake in Voya Financial by 16.5% during the 1st quarter. Leeward Investments LLC MA now owns 289,498 shares of the asset manager’s stock valued at $19,779,000 after acquiring an additional 41,014 shares during the last quarter. SG Americas Securities LLC boosted its stake in Voya Financial by 1,038.3% during the 1st quarter. SG Americas Securities LLC now owns 113,718 shares of the asset manager’s stock valued at $7,769,000 after acquiring an additional 103,728 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in Voya Financial during the 1st quarter valued at $291,000. 96.10% of the stock is currently owned by institutional investors.

About Voya Financial

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.